BANGKOK, Aug 26 (Reuters) - Thai stocks were expected to
fall on Tuesday, weighed down by falls on Wall Street due to
worries about the credit markets, while an anti-government
rally will stoke domestic political concerns, analysts said.
As a prelude to the demonstration against the
seven-month-old coalition, about 40 armed anti-government
activists broke into the studios of Thai state broadcaster NBT
on Tuesday to try to halt programming. [ID:nBKK47538]
A leader of the anti-government People's Alliance for
Democracy, which has organised the rally at Government House,
where the cabinet is due to hold its weekly meeting, said the
incident had nothing to do with his group.
"Fears of political turbulence will prompt selling in the
short term. Although the market has already absorbed some, this
morning's situation is new," Siam City Securities analyst Sukit
Udomsirikul said, adding the index could fall more than 2
percent.
Investors will also be cautious ahead of Wednesday's Bank
of Thailand interest rate meeting. Most economists expect the
central bank to raise rates, although some expect no change as
oil prices fall and inflation pressures ease. [ID:nBKK121591].
Support on the main index .SETI should be at 660-675 and
resistance at 682, analysts said.
On Monday, the benchmark SET index fell 0.55 percent to
678.20, with big-cap energy shares down in line with weaker
global oil prices.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0105 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1266.84 -1.96% -25.360
USD/JPY JPY= 109.4 0.07% 0.080
10-YR US TSY YLD US10YT=RR 3.7856 -- 0.002
SPOT GOLD XAU= 819.35 -0.21% -1.750
US CRUDE CLc1 115.5 0.34% 0.400
DOW JONES .DJI 11386.25 -2.08% -241.81
ASIA ADRS .BKAS 135.20 -1.08% -1.47
-------------------------------------------------------------
MARKET SUMMARY > Oil rises as tropical storm forms in Caribbean
[O/R] > US STOCKS-Financial worries drive Wall Street
down 2 pct[.N] > US dollar falters vs yen as stocks post steep
losses [USD/] > TREASURIES-Yields tumble in safe-haven buying
[US/] > Gold extends losses, defies rising oil
[GOL/]
STOCKS AND FACTORS TO WATCH
- Thai Union Frozen Products (TUF) TUF.BK, Thailand's
biggest canned tuna exporter, said a weaker baht and strong
sales would boost its 2008 net profit and shield the firm from
rising tuna costs. [ID:nBKK164414]
- Economic growth in Thailand slowed to a seasonally
adjusted 0.7 percent in the second quarter, well below
economists' forecast, as soaring inflation and political
instability curbed demand and investment. [ID:nBKK303964]
- For the Thai press digest click on [ID:nBKK39609]
- For Thailand's IPO diary click on <TH/IPOMENU>
- For Thailand's stock exchange news click on [TH-SET]
- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL-ECI-TH-RTRS]
($1=33.90 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)
